A Comparison of the Best Binary Options Bonuses
A Comparison of the Best Binary Options BonusesAugust 15, 2012
Binary options brokers will offer you bonuses as incentives. Before you start comparing which broker gives you the best or biggest bonus, it is crucial to draft a bonus strategy based on your trading style.
For example, technical traders will typically choose a bonus that is relatively low and/or with a low trading volume requirement attached to it. Scalpers or high frequency traders may even want to forgo their bonus privileges because it damages their ability to move in and out of trades and locks them in to a predefined trading contact based on a minimum trading quota.
Generally speaking, when I asked the brokers about their welcome bonus packages, promotions, cash back bonuses, educational allowances, financial bonuses, and insurance bonuses, they were all hesitant to provide me with the information. This is understandable due to the fact that their risk managers have to deal with street-smart traders looking to find any legit means to leverage their positions and make money and gains by artificially inflating and increasing their trading account balances.
OptionBit Bonus Strategy, Analysis, and Review
Optionbit offers a welcome bonus up to $500.
But what exactly does this mean?
OK, here’s how it works:
Optionbit offers what they call an educational allowance, which for all intents and purposes can be referred to as a bonus or incentive to deposit.
The bonus is differential and is given depending on the amount of the purchase that is made.
1. Invest $200 lets say, get a bonus of 30%, achieve a balance of $260 and reach a trading volume requirement equaling the deposit sum X 10 and the bonus sum X 35 or
(200 X 10) + (60 X 35) = $4,100
2. Invest $500 lets say, get a bonus of 40%, achieve a balance of $700 and reach a trading volume requirement equaling the deposit sum X 10 and the bonus sum X 35 or
(500 X 10) + (200 X 35) = $13,000.
3. Invest $1,000 lets say, get a bonus of 50%, achieve a balance of $1,500 and reach a trading volume requirement equaling the deposit sum X 10 and the bonus sum X 35 or
(1000 X 10) + (500 X 35) = $27,500
Traderush Bonus Strategy, Analysis, and Review
Traderush offers a variety of incentives for traders wanting to open an account and invest money.
The minimum deposit stands at $200 and the welcome bonus is up to 100%
Benefits in Bullets:
- Cash Promotions
- Trading Credits (Free Trades)
- Exclusive VIP Offers
These bonuses and perks are exclusive to Traderush and the terms and conditions attached to these incentives are subject to change. Traderush has a set of default terms and conditions which are applicable to all bonuses and promotions excluding specific one-time educational allowance or financial bonuses given on an ad-hawk basis.
Stipulations/Trading Volume Requirements
In order to withdraw your bonus and winnings from the Traderush cashier you need execute or “fulfill” a certain trading volume of 30 times your bonus amount.
Traderush has refund bonuses, in this case you are required to execute trades reaching or exceeding a volume of 20 times the bonus amount issued to your account.
Bonus Tip! The counter for the trade volume requirement starts ticking the second your your bonus reaches your trading account. If you prefer trading without receiving a bonus make sure you ask the customer service team to rescind your bonus privileges before your deposit. The second you make a trade with a bonus in your trading account you are “locked in” and must reach the trading volume as stipulated in the terms and conditions section. Opening a demo account and making 60 second trades is always a good practice because it simulates a balance (or bonus balance) in your account and let’s you see how the system reacts.
Factoid: The minimum trade is 5 EUR/USD on Traderush depending on the currency of your choice. Canceled or annulled trades do not count towards the required trading volume.
Option Builder Creates Added Exposure to Traderush: When you trade on Option Builder, all trades below “Risk Management Level” of 55% / 30% will not count towards the trading volume requirements.
Ahh…What Does this Actually Mean?
It means Traderush has been taken for a ride too many times by savvy traders that have abused the incentives given to them. So they had to create some kind of cosmetic trading buffer that deducts trading volume quotas on all trades performed on Option Builder.
I don’t blame them, and this is something they had to do in order to keep the legit traders close and the scammers looking for fresh meat somewhere else.
Now, your money will only be transferred to the finance department for a withdrawal after all the trading volume quotas have been met. If you have failed to do so your withdrawal will be declined and balance will return to the original balance prior to cashing out.
Traderush management reserve their right to freeze accounts and nullify balances and bonuses if they feel any form of fraudulent trading activity has taken place. This is somewhat tricky, because they understand that if this is not a clear-cut case of fraud they risk getting their name smeared on the forums.
Optionsclick Bonus Strategy, Analysis, and Review
OptionsClick offers ongoing bonuses, promotions, and customized trading packages for VIP’s. Interestingly enough these offers are claimed by email and are credited to your account by the staff.
OptionsClick Bonus Terms and Conditions:
Bonuses are only available for one-time-use for registered OptionsClick traders.
The bonuses are credited immediately to the OptionsClick account.
The terms stipulate that any form of bonuses such as refunds, insurance coverage, Dividend Enhancements, increased dividend payment, financial bonuses, educational allowance, etc. can only be withdrawn after the bonus has been traded 20 times.
For example: Let’s say a $50 bonus was given by the broker. You (the trader) must execute trades totaling a volume of $1,000 before you can cash out your bonus and winnings.
If you try to cash out before fulfilling the required trading volume the remainder of your bonus balance will be annulled. If your contracts expire out of the money and you have lost some of the trading balance, whatever remains from the original deposit amount can be withdrawn minus the bonus and uncleared balance. If you have managed to make money and profit from trades the gains will be stricken and the original deposit may be cashed out.
Factoid! Trades at Optionsclick are determined by real time live market feeds.
Optionsclick management claims that their VIP Club is the best in the industry. According to their Chief Trader Optionsclick will provide tailor made solutions to all forms of traders with varying investment habits. For example, some traders can make 1000 trades a day utilizing small amounts capital, while others execute 5 trades a day of very large amounts. The dealers draft a trading strategy or plan based on the perceived needs, behavior, and trading patterns of the trader.
The Gold VIP and Custom Platinum VIP Traders enjoy exclusive privileges and incentive programs based on trading volume, amounts, habits, and so on.
Conclusions & Recommendations for Formulating a Bonus Strategy
A. If you don’t want to lock yourself into a trading quota requirement consider asking the staff to rescind your bonus privileges before depositing.
B. I highly recommend you check to see which broker has the lowest trading volume requirement.
C. Bigger isn’t necessarily better. The bigger your balance is the more trades you have to execute in order to cash out.
D. Make sure everything you are not sure of is provided for you in writing either on chat or mail.
E. Don’t be ashamed to haggle for more competitive offers. After all, it’s only money right?
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